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Stock Market & Financial Investment News

News For JPM;BAC;WFC From The Last 14 Days
Check below for free stories on JPM;BAC;WFC the last two weeks.
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July 30, 2014
15:17 EDTBACBank of America raises offer to DOJ, nears mortgage settlement, Bloomberg says
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13:53 EDTBACBank of America, U.S. near mortgage deal after bank raises offer, Bloomberg says
13:44 EDTBACBank of America division ordered to pay $1.3B over mortgages, Bloomberg reports
Bank of America's (BAC) Countrywide division has been ordered to pay $1.3B in penalties for defective mortgage loans it sold to Fannie Mae (FNMA) and Freddie Mac (FMCC) during the 2008 financial crisis, Bloomberg reported. The fine is just over half the amount the government had requested, Bloomberg added. Reference Link
13:26 EDTBACBofA Countrywide unit ordered by judge to pay $1.3B, Bloomberg reports
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July 29, 2014
11:12 EDTJPMJPMorgan reducing tech support headcount, Bloomberg says
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09:57 EDTJPMJPMorgan cutting hundreds of tech support employees, Bloomberg reports
06:06 EDTBACBank of America, DOJ talks hit snag, WSJ reports
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July 28, 2014
07:01 EDTJPMSankaty to acquire JPMorgan Global Special Opportunities Group portfolio
Sankaty Advisors, LLC, the independently managed credit affiliate of Bain Capital, announced the signing of a definitive agreement to acquire a portfolio of loans and other securities from J.P. Morganís Global Special Opportunities Group. The portfolio contains mezzanine loans in North America and Europe, as well as loans and related special situations investments in Australia and across Asia, with an aggregate value of approximately $1.3B. This acquisition follows Sankaty Advisors' other recent purchases of loan portfolios from Irish Bank Resolution Capital, Lloyds Banking Group and CapitalSource. The transaction, which is expected to close by the end of 2014, is subject to borrower and regulatory approvals. Kirkland & Ellis, LLP served as legal counsel to Sankaty Advisors. J.P. Morgan advised on the sale and Davis Polk & Wardwell, LLP served as legal counsel to JPMorgan Chase. This transaction is not expected to have a material impact on JPMorgan Chaseís earnings.
06:36 EDTJPMJPMorgan to sell debt portfolio to Sankaty for $1B, FT reports
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06:35 EDTJPMJPMorgan questoined by regulators for conclicts of interest, WSJ says
JPMorgan has been recently questioned by regulators about whether the firm steers private-banking clients to its own investment products, reports the Wall Street Journal. According to people familiar with the matter, the questions have prompted JPMorgan to change its disclosures to private-banking clients about the differences between its own products and outside offerings. Reference Link
06:25 EDTJPMJPMorgan implied volatility of 14 at lower end of index mean range
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July 24, 2014
11:12 EDTBACBank of America to pay $16.6M to resolve U.S. sanctions violations, Reuters says
The Treasury Department said Bank of America has agreed to say $16.6M to resolve allegations it processed transactions for drug traffickers subject to U.S. sanctions, reports Reuters. The bank processed around $91,000 in transactions for six designated narcotics traffickers between 2005 and 2009, and failed to file timely reports on accounts owned by four others. Reference Link
07:00 EDTJPMJudge dismisses JPMorgan case regarding Madoff scheme, Reuters says
U.S. Federal Judge Paul Crotty made a ruling that dismissed a shareholder's case which claimed JPMorgan board members knew about Bernard Madoff's Ponzi scheme and didn't acknowledge red flags motioning towards fraud, according to Reuters, citing the lawsuit. Reference Link
July 22, 2014
19:34 EDTJPMJPMorgan in advanced talks to sell half its stake in buyout arm, WSJ says
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07:30 EDTJPMJPMorgan creating new multi-class electronic-trading group, WSJ says
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07:17 EDTBACNational Association for Business Economics to hold a seminar
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July 21, 2014
10:02 EDTWFCOn The Fly: Analyst Downgrade Summary
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10:02 EDTJPMOn The Fly: Analyst Upgrade Summary
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09:38 EDTJPMActive equity options trading on open
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08:41 EDTJPMJPMorgan upgraded to Outperform from Market Perform at FBR Capital
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08:36 EDTWFCWells Fargo downgraded to Hold from Buy at Rafferty Capital
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07:50 EDTJPMJPMorgan upgraded to Outperform from Market Perform at FBR Capital
07:29 EDTJPM, BACAIG settlement with BofA takes crisis claw back total up to $2B, FT says
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07:12 EDTJPMCFA Institute to hold a seminar
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July 18, 2014
16:47 EDTJPM, BACMarket ends week higher as earnings, M&A offset geopolitical tensions
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13:02 EDTJPMGoldman, JPMorgan ready with $25B bridge loan for Time Warner takeover by Fox
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06:45 EDTBACDocument reveals SEC examining firms in HFT probe, Reuters says
An internal document from the U.S. Securities and Exchange Commission revealed that the regulator has been looking for data on 10 registered broker dealers as part of an ongoing probe into high-frequency trading strategies, according to Reuters, citing the document. The firms in question include Allston Trading, Hudson River Trading, Jump Trading, Latour Trading, which is an affiliate of Tower Trading, Merrill Lynch, Pierce, Fenner & Smith, owned by Bank of America (BAC), Octeg, which has been merged into a unit of KCG (KCG), Tradebot Systems, Two Sigma Investments, Two Sigma Securities and Virtu Financial. Reference Link
July 17, 2014
16:22 EDTJPMJPMorgan awards CEO Dimon 2M crisis-era stock options
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07:14 EDTWFCWells Fargo CEO John Stumpf says economy stronger than people think
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06:38 EDTBACStudy says UBS largest private bank with assets near $2T, Reuters says
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